I found the car through a friend of mine at work. He mentioned that a friend of his had a Porsche that was "REALLY FAST" but it wouldn't start cause the battery was dead. And it had been sitting outside in his driveway for 9 years. He thought the guy was interested in making it go away. I asked how fast? He responded it was the fastest car he had ever been in. I asked if it was a 911 turbo. He said whats a 911. So I did a little Google work and pulled up a picture of a 911 turbo, he said yeah that's it, wrong color though. Long story short, I bought it and towed it home to share space with my two 924 turbo project cars. (Anyone want a sweet deal on a 924 turbo or two?)

Here it is after spraying off all the grime. The paint looks better wet.

Nice... Garnet red metallic, with factory gold wheels, and I'm assuming champagne interior. It's unfortunate it couldn't have be stored indoors all those years. Good luck, they're among the best porsches ever made..

Prior to the sale I suspected I had found a gem in the rough. The car had 68,000 miles on the clock.
The owner said he bought it in 1987 from the dealer in Charlotte, North Carolina. When I pulled the vehicle history report it indicated that there was only one owner, the dealer had put 7000 miles on it between 1986 and 1987. So I am now the second owner.

Took about an hour to get to this step, then about another to figure out how to get those little 3 screws and washers off the rear housing without dropping them or breaking anything.
Flipped the fan housing over and carefully dropped it on the two blocks to allow the alternator to "hammer" itself out.

The rear bearing tolerance ring is marked Porsche, the Valeo voltage regulator has a date code of 4/90. The slip rings are worn and the owner indicated he was having charging problems when he parked the car in 2003. All the diodes test good, I will get the unit tested as it is, but have already ordered rebuild parts, brushes, slip rings, and bearings. Hopefully I can rebuild it myself. I would really like to rewire it for an oversize external regulator. I should be able to clip the leads on the existing regulator, make a harness and put a volt regulator over next to the ignition box. Has anyone ever done this?

Does an 86 have an external regulator inside the engine bay on the driver's side?

I know some were internally regulated... These are like $25.

What a shame to see the car get to this state of repair for a simple and sub $500 repair...

Good 'on ya for seeking out the car and bringing it back. This is pretty similar to my 77 911 when I got it... neglected but had good bones and everything was repairable. In the case of my car the 'trusted mechanic' was incompetent and had the CIS so badly out of tune it would hardly run - the PO got fed up and sold it cheap.